I want to keep my future open
Who are they?
In this mindset, people define success by saving money and making trade offs so they can be happy and live comfortably.
Skews with family
- Key beliefs
- Rules and too much structure inhibit a well cultivated intuition
- Quality of life defines success
- Financial needs must be balanced with my other needs
- Financial independence means they can do what they want in the future
- Everything will ultimately be okay, so there’s no need to feel anxious
- Key behaviors
- Relies on gut checks to make financial decisions
- Takes an analytical and practical approach to new situations
- Takes care of bills and payment quickly
- Generally prefers minimal engagement with financial services
- Uses more list‐based systems to calibrate and judge financial status
Explorers are unlikely to switch away from their bank, providing things tick along without much effort.
ALL THE MODES
Good practices and cultivated intuition help Explorers feel on track. Explorers showed all money modes: “Get it”, “Manage it”, “Track it” and “Spend it”
Making decisions through gut checks
Trying to decide if I should pay my auto insurance in full or month to month. [...] I like month to month so I can change my policy more easily.— Mike S., 30
Prioritizing other needs
I don’t need to be called every two months asking what my goals are. My goals haven’t changed. if I had any to begin with!— Frances S., 64
Keeping my options open
Checking on my Acorns account. It’s more of a recreational thing than a serious investment. I’m curious... to see what would happen if I switched portfolios. It’s fun!— Justine G., 39
Explorers like low-touch services that look after themselves.
Explorers stand out in the simplicity and educational value of their tools
Simple analog tools
Achievers had high analog tool use (eg. binders, folders, notebooks).
Keeping an eye
Digital tools are put to use supporting Achievers specific and personal needs.
Banks have the opportunity to offer Explorers fully serviced products to fit into their lifestyle.